The cost of living – and doing business – is rising rapidly, with nearly half of business owners saying they have already raised their prices, with almost a third doing so by at least 10%.
But the full impact of inflation is yet to be felt on 37% of owners, but they expect costs to increase during the year.
“Business owners want to grow and preserve any hard gains made amid lockdowns and restrictions, yet many are forced to remain cautious about their future plans during this volatile economic and political climate.” Shadi MacIsaac, CEO and Founder commented on the owner.
Other concerns from Canadian entrepreneurs are those around tax season, fearing about 3 in 10 of the total tax burden, and an equal share citing providing proper records or paperwork. About 30% are confused about the deduction they are eligible to claim.
not all bad
While there are several major concerns among entrepreneurs, there are some positive ones as well.